When I had a ML7, I made a Rear Toolpost. With the toolholder mounted inverted, it functioned very well.
The tool now lives in the shop made 4 way RTP (along with front and back chamfer tools) on my current lathe, and despite being deliberately ground at an angle, very rarely causes problems.
Also, a 2mm Garmin parting tool, from JB Cutting Tools, is used occasionally, in the front toolpost. This has a V groove form, and swarf does not jam up, and again, very rarely digs in. Being Carbide, the tips do not like interrupted cuts, and chip. Nevertheless; highly recommended.
Even if you have to remove it for most use, my advice is to buy/make a Rear Tool Post .
As already said, maintain a steady, slow infeed, to prevent the tool from rubbing.
Additionally, for large diameter ( 12mm +) bar, I nearly always rig a gravity drip feed of soluble or neat oil onto the blade.
Some of this may help.
Howard